- Ford daily chart shows price in a contracting triangle pattern.
- Price testing the up trend line and Possible breakdown level is 15.06 - 15.09.
- Weekly chart shows price closing above golden ratio. Trading below golden ratio could lead to bigger corrections.
- S&P 500 WEEKEND UPDATE
June 16, 2013
- QQQ Weekly chart shows weakness as price falls back into the weekly channel.
- For next week 20 week SMA could get tested if price falls below 71.47
- Crucial support in daily chart is 50 Day SMA whcih must be broken for a bigger fall to start. Bulls need to break above the resistance line shown in last chart to avoid correction for now.